Insurance
Arthur J. Gallagher & Co. Acquires Michigan’s Meadowbrook
Arthur J. Gallagher & Co. announced it has acquired the assets of Southfield, Michigan-based Meadowbrook Insurance Agency. Terms of the transaction were not disclosed. Meadowbrook Insurance Agency is a retail insurance broker offering a comprehensive range of property/casualty and group …
Read More Texas Department of Insurance Names Rudnai as Captive Specialist
The Texas Department of Insurance (TDI) has announced the hiring of Robert Rudnai as its captive insurance specialist. Rudnai is responsible for licensing and monitoring Texas-based captives and alerting businesses to the potential of starting a captive. In 2013, the …
Read More Net-Zero Investor Group Reports Financing Activities Lead to Emissions Decline
A $9.5 trillion investor group that includes Allianz SE, Legal & General Plc and the California Public Employees’ Retirement System reported a modest decline in greenhouse gas emissions enabled by its members’ lending and investment activities, the first time it …
Read More Travelers Q3 Net Income Down 11% on Catastrophe Losses, Reserve Development
Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly results, New York-based Travelers said it …
Read More Markets/Coverages: Digital Lloyd’s Syndicate Ki Partners With Travelers and Aspen to Expand Follow Capacity
Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced that Travelers and Aspen will offer additional follow capacity through its digital platform from Jan. 1, 2024. As a result of this partnership, Ki will become the first algorithmic …
Read More California Trucking Group Challenges State’s Zero-Emissions Rule
The California Trucking Association (CTA) has asked a federal judge to stop a state rule that would require truckers to switch to zero-emissions vehicles by 2042, calling it “a vast overreach” that threatens the survival of industry. The trucking group …
Read More Ukraine’s Risky Bet on Black Sea Shipping Corridor Pays Off as Ships Stream Into Ports
A steady stream of ships is hauling grain and metals from Ukraine a month after the first inbound vessel sailed through its new shipping corridor in the Black Sea in defiance of Russian threats. More than 30 vessels have called …
Read More Commercial Fleet Insurtech Nirvana Secures $57M in Series B Funding
Nirvana Insurance announced a $57 million Series B funding round with Lightspeed Venture Partners investing again to lead the round, and additional participation from General Catalyst and Valor Equity Partners. The new funding positions San Francisco-based Nirvana to make substantial …
Read More Hamilton Insurance Group Files IPO Registration With SEC
Hamilton Insurance Group Ltd., the Bermuda-based special re/insurer, announced it has filed a registration statement with the US Securities and Exchange Commission, relating to a proposed initial public offering of its common shares. Hamilton intends to apply to list the …
Read More Tennessee DCI Mediation Process Results in Record $13 Million to Insureds
Tennessee’s Department of Commerce and Insurance has mediated more than 3,000 complaints against insurers so far this year, resulting in a record $13 million awarded to insureds, the department said this week. “This amount represents the largest amount of money …
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